Short Interest in Direxion Daily PANW Bull 2X ETF (NASDAQ:PALU) Expands By 72.4%

Direxion Daily PANW Bull 2X ETF (NASDAQ:PALU) saw a large increase in short interest during the month of August. As of August 31st, there was short interest totaling 30,366 shares, an increase of 72.4% from the August 15th total of 17,614 shares. Approximately 5.3% of the shares of the stock are sold short. Based on an average trading volume of 93,344 shares, the short-interest ratio is presently 0.3 days.

Direxion Daily PANW Bull 2X ETF Price Performance

Shares of Direxion Daily PANW Bull 2X ETF stock traded up $0.28 during trading on Wednesday, reaching $56.78. 96,170 shares of the stock traded hands, compared to its average volume of 149,065. The company has a market capitalization of $56.72 million, a price-to-earnings ratio of 60.46 and a beta of 3.24. The business has a fifty day simple moving average of $52.31 and a two-hundred day simple moving average of $33.98. Direxion Daily PANW Bull 2X ETF has a 52-week low of $9.85 and a 52-week high of $67.86.

Institutional Trading of Direxion Daily PANW Bull 2X ETF

An institutional investor recently raised its position in Direxion Daily PANW Bull 2X ETF stock. Parallel Advisors LLC lifted its holdings in Direxion Daily PANW Bull 2X ETF (NASDAQ:PALU) by 128.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,000 shares of the company’s stock after purchasing an additional 2,250 shares during the quarter. Parallel Advisors LLC owned 0.50% of Direxion Daily PANW Bull 2X ETF worth $50,000 at the end of the most recent quarter.

Direxion Daily PANW Bull 2X ETF Company Profile

Direxion Shares ETF Trust – Direxion Daily PANW Bull 2X Shares is an exchange traded fund launched by Direxion Investments. The fund is managed by Rafferty Asset Management, LLC. It invests in public equity markets. The fund invests through derivatives in stocks of companies operating across information technology, software and services sectors. It uses derivatives such as swaps and options to create its portfolio. The fund invests in growth and value stocks of companies across diversified market capitalization.